Dollar ETFs Keep Grinding Higher

The dollar has recently been so strong that some currency traders are suggesting the U.S. currency can hit parity with the euro next year.

Euro weakness would benefit the ProShares UltraShort Euro (NYSEArca: EUO). Underscoring the euro’s prominence on the global currency stage and investors’ willingness to bet on weakness for the currency, EUO is one of the largest currency ETFs trading in the U.S. Another idea for euro bears to consider is the VanEck Vectors Double Short Euro ETN (NYSEArca: DRR).

“On Tuesday, which was marked by some of the lightest trading this year, the dollar was supported by data showing U.S. consumer confidence climbed to its highest level in 15 years,” according to MarketWatch.

The dollar is also soaring against other major currencies, including the yen and British pound.

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